MSTR Options History — July 2023

In July 2023, MSTR traded between $37.49 and $46.44. ATM implied volatility averaged 72.3%, placing in the 9.5% IV rank vs the trailing year. The 30-day expected move averaged 20.7%. IV traded above realized volatility by 8.0% (HV 20d: 64.3%). Max pain ranged from $31.00 to $40.00. Net GEX was positive for 17 of 20 trading days. Term structure was in contango for 8 of 20 days. Put/call ratio averaged 1.15.

Notable Days

  • 2023-07-13: Highest Volume — 595,950 contracts
  • 2023-07-21: Largest IV drop — 6.9% change
  • 2023-07-19: Highest IV Rank — 15.0%
  • 2023-07-19: Largest Expected Move — 22.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$42.45$37.49$46.44$37.51$43.60
Max Pain$37.29$31.00$40.00$31.00$40.00
ATM IV72.3%65.1%78.5%68.5%67.5%
Expected Move20.7%18.6%22.5%18.6%20.1%
HV 20d64.3%57.8%75.4%75.4%61.6%
HV 60d71.2%66.7%73.3%73.1%66.7%
IV Rank9.5%3.0%15.0%6.1%5.2%
IV Percentile14.0%2.0%22.2%7.9%6.3%
Term Structure-0.2%-1.1%1.2%0.0%-0.2%
VWIV74.8%66.3%84.0%66.3%73.8%
Skew 25d-1.3%-6.2%0.6%0.6%-0.9%
Skew 10d-0.6%-10.4%3.4%3.2%-2.1%
Call IV 25d74.7%67.0%82.6%69.6%70.0%
Put IV 25d73.4%66.2%79.8%70.2%69.1%
Bid-Ask Spread %24.5714.6430.3129.3826.43
Gamma HHI0.050.030.110.050.03
Net GEX10.9M-5.9M27.7M15.9M3.9M
Net DEX-1.04B-1.79B-692.5M-896.8M-782.9M
Net VEX-4.7M-5.1M-4.2M-4.2M-4.8M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio1.150.681.710.681.69
Total Volume241,058.599,910595,950303,810137,290
Total OI1,406,747.51,134,7501,670,2501,269,6901,134,750

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-07-03$37.51$31.0068.5%18.6%75.4%6.1%66.3%0.6%0.0%15.9M-896.8M-4.2M0.6829.38N/AN/A180,380123,430562,290707,400
2023-07-05$37.88$31.7570.9%19.6%65.4%8.2%70.3%-0.7%1.2%16.1M-901.7M-4.3M1.1514.64N/AN/A155,400178,820589,230767,700
2023-07-06$37.49$34.0072.6%20.7%61.4%9.8%74.1%-0.5%-0.2%14.8M-843.4M-4.4M1.1625.82N/AN/A107,410124,470632,260825,700
2023-07-07$38.36$34.0072.5%20.8%59.7%9.7%73.8%-0.9%0.3%27.7M-978.7M-4.4M1.1026.42N/AN/A209,320229,330652,500870,740
2023-07-10$40.45$34.0072.6%20.7%61.1%9.8%73.7%-0.9%-0.3%16.5M-1.04B-4.5M1.0022.55N/AN/A146,230146,100576,520761,180
2023-07-11$41.42$34.0073.1%20.9%58.8%10.2%73.7%-0.1%-0.3%21.0M-1.18B-4.6M0.6928.88N/AN/A154,110107,060613,640819,770
2023-07-12$41.33$34.0070.4%20.2%57.8%7.8%73.4%-2.0%0.1%23.4M-1.17B-4.5M1.3027.04N/AN/A102,610133,660641,020863,180
2023-07-13$46.44$34.0074.1%21.4%67.2%11.1%77.4%-4.0%0.5%26.3M-1.79B-4.8M0.7025.41N/AN/A350,190245,760653,980895,810
2023-07-14$45.28$39.0076.7%22.0%69.2%13.5%79.6%-6.2%-0.1%24.5M-1.62B-5.1M0.8223.65N/AN/A239,920195,620705,800964,450
2023-07-17$44.77$40.0078.2%22.4%68.4%14.7%81.6%-1.2%-1.1%9.3M-1.19B-5.0M1.7121.49N/AN/A68,130116,460590,170838,310
2023-07-18$44.66$40.0078.4%22.4%68.2%14.9%84.0%-1.2%-0.8%6.0M-1.14B-5.1M1.2823.48N/AN/A66,55084,980610,060889,920
2023-07-19$45.51$40.0078.5%22.5%65.9%15.0%81.2%-1.9%-1.0%9.2M-1.26B-5.1M0.8422.52N/AN/A77,03064,980619,190915,020
2023-07-20$43.81$40.0076.1%21.9%67.3%12.9%78.3%-1.9%-1.1%-36.2K-1.04B-5.0M0.9226.98N/AN/A88,40081,110638,290932,160
2023-07-21$43.61$40.0070.8%20.4%66.9%8.2%72.6%-0.5%-0.5%3.4M-993.6M-4.9M1.1725.29N/AN/A106,480124,500653,840950,420
2023-07-24$42.91$40.0071.7%20.8%67.8%9.0%74.2%-1.0%0.1%-865.1K-706.3M-4.8M1.1821.28N/AN/A76,08089,600514,620645,220
2023-07-25$43.56$40.0072.1%20.8%60.8%9.3%75.6%-1.0%-0.2%2.0M-813.3M-5.0M1.3521.27N/AN/A42,53057,380547,980684,990
2023-07-26$44.45$40.0068.8%20.1%59.0%6.3%73.7%-0.1%0.1%5.0M-910.6M-4.9M1.5127.63N/AN/A40,40060,860562,530701,960
2023-07-27$42.56$40.0068.1%19.7%62.3%5.7%71.4%-0.6%-0.5%-5.9M-692.5M-4.7M1.1020.93N/AN/A69,89077,020568,920717,280
2023-07-28$43.44$40.0065.1%18.8%61.6%3.0%67.2%-0.9%0.5%270.6K-812.0M-4.8M1.5830.31N/AN/A62,74098,940578,180737,970
2023-07-31$43.60$40.0067.5%20.1%61.6%5.2%73.8%-0.9%-0.2%3.9M-782.9M-4.8M1.6926.43N/AN/A51,13086,160505,380629,370